Asha Sharma, the CEO of Xbox, has been appointed as an advisor to a newly formed US Federal Reserve task force focused on productivity and jobs. This appointment comes shortly after Xbox announced a significant restructuring that led to the dismissal of 3,200 employees. Sharma will join the Board of Governors of the Federal Reserve, an entity responsible for implementing U.S. monetary policy, as part of a group tasked with enhancing the Federal Reserve's operational efficiency.
One of Sharma's key responsibilities within this task force will be to assess the influence of artificial intelligence on the labor market. Federal Reserve Chairman Kevin Warsh announced her inclusion as an external adviser, stating that she, along with other selected individuals, will be tasked with rigorous analysis and providing candid feedback to the Federal Open Market Committee. Updates on the task forces' progress are expected to be periodically posted on the Federal Reserve's website.
Sharma is notably the only currently active executive among the named candidates. She will serve alongside figures such as Marc Andreessen, a venture capitalist heavily invested in AI, and Charles I. Jones, a Stanford economics professor currently on leave at Anthropic. Former Walmart CEO Doug McMillon will participate in a separate group focused on data.
Sharma's tenure at Xbox has been marked by a substantial reorganization, often referred to as a "reset," which has led to the closure of studios, the departure of experienced staff, a reported decline in Game Pass subscriber numbers, and challenges for live service game development. The consolidation or sale of several first-party studios has also occurred during this period, reportedly impacting morale within teams working on key upcoming Xbox titles.
Prior to her leadership at Xbox, Sharma held a prominent role in the artificial intelligence sector, serving as president of Microsoft’s CoreAI division. She also has a background at Meta, where she was vice president of product and engineering for Messenger and Instagram Direct. Her extensive experience with AI and technology leadership is expected to inform her contributions to the Federal Reserve's work on employment and productivity.